Reso 1032-05/1997RESOLUTION NO. 1032
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE VALLECITOS WATER DISTRICT
ESTABLISHING A RATE STABILIZATION FUND
WHEREAS, the Metropolitan Water District ("MWD") approved a refund for overpaid
1995/96 water rates to member agencies, including the San Diego County Water Authority
("SDCWA"); and
WHEREAS, SDCWA passed the refund through to SDCWA member agencies based on the
pro-rata percentage of water purchases for the same period; and
WHEREAS, Vallecitos Water District ("District") is in receipt of $590,267.03 as a pro-rata
share of that distribution; and
WHEREAS, the Board of Directors of the District desires to maintain a future retail water
rate that will be resistant to anticipated wholesale increases that may occur.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Vallecitos
Water District as follows:
The refund from MWD shall be placed in a separate account titled "Rate Stabilization Fund"
and shall be retained for the expressed purpose of mitigating rate increases that may occur as a result
of cost increases in upcoming years.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Vallecitos
Water District this 7th day of May, 1997, by the following roll call vote:
AYES:
NOES:
ABSENT: CRUZ, MASON
ABSTAIN:
DAVY, FERGUSON, HANNAN
argaret E. Fergus , President
Board of Directors
Vallecitos Water District
ATTEST:
William W. Rucker, Secretary
Board of Directors
Vallecitos Water District